NF had solid OAIR low volume narrow range balanced session on Wednesday. Expected imbalance in next session.NF opened with gap up which failed to hold and got open test drive down almost to close the gap then failed the drive and gone for one way move up to clear IBH then closed at highs.
Solid neutral extreme up session.
Spike up into close. 24560-24606 spike zone. Sustain in/above spike = strength else weakness.
Gap up and buying tail.
For next session, holding 24530-24560 buyers could go for filling spike zone and look for filling remaining gap upside and sustains means more upside. Opening higher and not able to stay higher beyond gap close zone means fill back in spike zone and minor weakness below 24530,solid weakness below 24460 to fill back imbalance from last session.
Levels wise, not able to stay below 24530 and move above 24585 could get 24610/24640 bullish above that for 24670/24710 if sustains 24740-24755/24780 possible and above 24795 could move towards 24830/24865-24885/24925/24955/24990.Not able to stay above 24640 could fallback to 24580/24550-24530 weak below that for 24505/24470-24460/24430/24400 if sustains then 24365/24330/24300-24290/24250 probe possible.
Weekly :
NF had a large gap down and all week held the gap and made good lower value balance week earlier so for the week holding 24275 expected move upside towards 24470/24540 reject else more upside expected. They started week holding 24275 and moved till 24530 then rejected and gone below 24275 which was marked for 24215/24120-24095/24020. They made a move till 24110 then bounced back higher to close at high of the week.
Back to back balanced week and it closed at high of week. 24530 first support then 24460 next support for the week. Holding 24530 they should look for filling gap zone 24670-24710 then pullback else 24780/24840 then rejection possible. As of now not expecting move higher above 24840 and if happens then solid move towards 24920/24990-25030. Staying below 24530 could get 24460-24430 bounce else travel back in two week balance with a move towards 24365/24300-24250 bounce else 24170-24150/24095/24030.
Monthly :
Monthly gone for outside month and making balance below large extn it has made at start of Aug till now. b profile shaping up. 24350 pivot now for month. Upside 24710 good resistance and next res at 24840 zone. So, looking for fill back inside this support and resistance possible in coming week to shape the monthly profile. Staying below 24350 could get a move towards 24200-24150/24030 and below. Staying above 24840 calls for a move towards 24990-25030 and above.
Charts :
Daily
Weekly
Monthly
Data :
Notes :
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